Georgia factories index rises

From Morris News Service
news@newnan.com
ATLANTA  — Activity at Georgia manufacturing plants picked up slightly in September, according to a report released Monday by Kennesaw State University.
KSU’s Econometric Center’s Purchasing Manager’s Index rose 1.6 points to 52.0, just above the national index of 51.5 which also jumped up two ticks. Generally, economists consider a reading above 50 as indicating growth in the overall economy.Managers who buy supplies for their factories complete the monthly survey which asks about various aspects of their business. More managers reported an increase in their orders for new business compared to the number who said orders were off.
“The Georgia PMI stopped its four-month decline based on the strength of an 8 point new-orders increase. Although new orders tends to be volatile, it may be a signal that the PMI decline has ended, but remains weak,” said Don Sabbarese, director of the Econometric Center.
More companies say they have a shrinking inventory of finished goods, but many also noted they have cut back production. Still, 20 percent of those answering the survey expect production to rise over the next three to six months, an increase from the 14 percent predicting it in August.
Yet, at the same time, the employment index also climbed by 1.9 points.
That hiring may not accompany inflation since managers reported they are paying less for the commodities they use, driving the commodity-price index down 3.9 points.


More Business

60 Seconds with Tracey Jenkins and Cindy Ludwig

What was the idea behind opening an olive oil and balsamic vinegar tasting bar in Newnan? Tracey: Ashley Park seemed like the best starting ... Read More


Business People

Winstead named assistant VP at CharterBank Newnan resident Josh Winstead has been promoted to assistant vice president of CharterBank. Wins ... Read More


Business Briefs

A Better Way Antiques and Home Decor opening A Better Way Antiques and Home Decor will open its doors May 1 for a pre grand opening. The st ... Read More


GMC to locate new campus in Fayetteville

Georgia Military College in Milledgeville announced Friday it intends to locate a new campus in Fayetteville, in anticipation of population ... Read More


Lee-Goodrum Pharmacy

60 Seconds With John Goodrum

What are some of the biggest changes you’ve seen over the course of your career as a pharmacist? Technology. Also, the insurance compa ... Read More

Business Briefs

Chamber Golf Classic May 7 The 29th annual Newnan-Coweta Chamber of Commerce Golf Classic, presented by Piedmont Healthcare and Canongate G ... Read More